KUALA LUMPUR, Sept 8 (Bernama) -- Bursa Malaysia closed almost flat on Tuesday as buying interest rotated away from index heavyweights towards smaller-cap construction stocks, with sentiment affected by geopolitical uncertainty, said an analyst. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) eased 0.39 of a point to 1,714.40 from Monday’s close of 1,714.79. The benchmark index opened 1.65 points lower at 1,713.14 and moved between 1,710.44 and 1,714.50 throughout the trading session. The broader market was almost evenly balanced, with decliners leading gainers 548 to 546, while 598 counters were unchanged, 1,107 were untraded and 25 were suspended. Turnover expanded to 4.13 billion units valued at RM3.14 billion from 3.60 billion units valued at RM2.45 billion on Monday.
Maintained Market Perform with unchanged Target Price (TP) of RM2.41 Star Publication (M) Bhd We attended Star Publication (M) Bhd (STAR)’s post-4Q15 results briefing last Friday. The key highlights of the briefing focused on: (i) dividend, (ii) adex outlook, (iii) forward business strategies, and (iv) an update on its existing businesses. The group intends to keep its annual DPS target at 18.0 sen in FY16 should its core PBT stay at the RM170m-RM190m range. Meanwhile, STAR remains hopeful on its event division and believes the recently completed exhibition rights (Victory Hills Exhibitions Ptd Ltd) could provide buffer to its earnings. Post-briefing, there are no changes to our FY16FY17 estimates. Our STAR’s target price remains unchanged at RM2.41, based on a targeted FY16E PER of 13.5x (-1.0x SD below its mean). Maintained MARKET PERFORM for its decent dividend yield. Dividend aspiration. STAR is aiming to maintain its FY16E DPS at 18.0 sen if the core PBT is...